Eurozone climbs on rising output

Eurozone manufacturing firms had their best start to the year since 2000, according to the Markit Eurozone Purchasing Managers' Index for April, which rose to 58.0, up from 57.5 in March. The euro area PMI was boosted by output and new orders both rising slightly faster than indicated.

Germany, the Netherlands and France led the way, but Greece contracted and Spain slid towards stagnation. "This has been the best start to a year since the dot-com boom of 2000," said Chris Williamson of Markit. "April saw the third-highest rate of job creation over the past decade, which should filter through to consumer confidence and spending."